econ question 2 - Lecture Five, Professor Schuler alluded...

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KK Carothers Econ 101 Lin Zheng Question of the week #2 11 February 2008 The common cliché “Put your money where your mouth is!” suggests that citizens base their preferences on committing to an action, rather than simply alleging to one. While conducting surveys could possibly reveal the true desires of a market, a demand curve more accurately demonstrates what people want because it plots price against the quantity demanded: a real, true measurement. This implies that realistic transactions, not just the claim or estimation of what people will pursue, conduct market preferences. In
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Unformatted text preview: Lecture Five, Professor Schuler alluded to Marie Antoinettes infamous statement, They dont have bread? Then let them eat cake, a declaration that applies to the aforementioned clich; the queens empty response to her countrys beg for food did not fulfill the desire of her people, and she subsequently surrendered to the guillotine for not taking action. In order to determine the true preferences of the people, leaders cannot only contend that they will make change, but rather they must grant the needs and wants of the citizens to create a functional economy....
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This note was uploaded on 03/30/2008 for the course ECON 1110 taught by Professor Wissink during the Spring '06 term at Cornell University (Engineering School).

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